Many vehicles employ a panel assembly having a moveable panel which is utilized to control access to an opening in the vehicle. One example of such an application is on the sliding back-windows currently available on many pick-up trucks. Unfortunately, current designs only allow latching of the moveable panel in its fully closed position. The moving panel is a free-motion state in all other positions. One drawback of this design is that the panel assembly represents a possible point of entry for theft when the moveable panel is not in its fully closed position. Accordingly, there exists a need to provide a panel assembly which provides better control over the movement of the moveable panel and a panel assembly.